Hospitals are big purchasers of pharmaceutical products and have to stock many different chemical...

Question:

Hospitals are big purchasers of pharmaceutical products and have to stock many different chemical entities. However, they increasingly do not stock all. Instead, they restrict their formularies to many of the treatments in a therapeutic class but consciously exclude a few. How does this help them negotiate?

Pharmaceutical Products:

The products related to the treatment of the patients, like medicines and injections, are called pharmaceutical products. Some examples of the largest-selling pharmaceutical drugs are adalimumab, etanercept, and infliximab.

Answer and Explanation: 1

Hospital is the place where the patient receives treatment to get rid of their disease. The pharmacists in the hospital maintain the drugs by continuous removal of expired medications. They store only those drugs that have long expiry dates and those products in which hospital got benefit in terms of money, which means such products on which inflation effect is higher.

Whenever the pharmacists are asked to store the drug, they can negotiate on the generic drugs. Hospitals receive these drugs at low cost and sell them to the patient at a higher rate. So, generic and drugs of low price can be beneficial for hospitals, which they can discuss with MR (Medical representative).


Learn more about this topic:

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Pharmaceutical Drugs: Definition & Types

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Chapter 1 / Lesson 2
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Different types of pharmaceutical drugs are used to treat disorders of the various body systems. Learn about pharmaceutical drugs and how they are used to treat disorders of the brain, heart, lungs, and skin.


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